Lakewood, NJ 08701 Real Estate Market Report

ZIP Code: 08701
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Lakewood, NJ, are averaging 6.71%, which is higher than the sub-6% market rates observed earlier in early 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. $429,500 median sold price remains the primary indicator of market value and recent transaction activity in 08701, signaling that completed transactions are materially above asking levels in the sample; this suggests realized prices are stronger than current seller expectations (compare to the median listing price).

2. $329,000 median listing price shows a notable gap versus the median sold price, which may indicate pricing friction between seller expectations and what buyers are paying in closed transactions.

3. 205 median days on market points to slower sales velocity despite a hot market temperature; the elevated time-to-contract appears to reflect buyer selectivity and affordability constraints rather than weak demand alone.

4. 6.71% current 30-year fixed mortgage rate pressure is elevated relative to earlier 2026 sub-6% levels, which may be constraining purchasing power and prompting more cautious buyer behavior—elevated interest rate pressure.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.